{"id":12347,"date":"2018-02-07T22:56:00","date_gmt":"2018-02-07T22:56:00","guid":{"rendered":"http:\/\/www.gamasutra.com\/view\/news\/314454"},"modified":"2018-02-07T22:56:00","modified_gmt":"2018-02-07T22:56:00","slug":"take-two-swings-to-profit-has-high-hopes-for-red-dead-redemption-2","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2018\/02\/07\/take-two-swings-to-profit-has-high-hopes-for-red-dead-redemption-2\/","title":{"rendered":"Take-Two swings to profit, has high hopes for Red Dead Redemption 2"},"content":{"rendered":"<p><em>Grand Theft Auto\u00a0<\/em>publisher Take-Two Interactive <a href=\"http:\/\/ir.take2games.com\/phoenix.zhtml?c=86428&amp;p=quarterlyearnings\">today reported<\/a> a modest bump in revenue and a swing to profit for the fiscal quarter ended December 31.<\/p>\n<p>The company said one of its main focuses&#8211;expanding digital sales&#8211;is\u00a0on track, stating that recurrent consumer spending (purchases of DLC, in-game currency and microtransactions) grew 64 percent\u00a0year-over-year and accounted for 32 percent of total net revenue.<\/p>\n<p>Ongoing revenue from\u00a0<em>Grand Theft Auto Online\u00a0<\/em>and the\u00a0successful launch of\u00a0<em>NBA 2K18<\/em>\u00a0were attributed\u00a0for the\u00a0growth seen in\u00a0<span>recurrent consumer spending.<\/span><\/p>\n<p>Take-Two reported quarterly\u00a0(GAAP) net revenue of\u00a0$480.8 million, up from $476.5 million for the same quarter a year ago. Net income was $25.1 million, up from a net loss $29.8 million.<\/p>\n<p>Take-Two is\u00a0optimistic about the company&#8217;s\u00a0 prospects for fiscal 2019. CEO Strauss Zelnick\u00a0confirmed\u00a0Rockstar\u00a0Games&#8217;\u00a0recently-delayed open world horse-wranglin&#8217; gun-slingin&#8217; cowboy simulator\u00a0<em>Red Dead Redemption 2<\/em> will launch on October 26, 2018.<\/p>\n<p>Zelnick\u00a0added, &#8220;We\u00a0continue to expect to deliver both record net bookings and record net cash provided by operating activities in fiscal 2019, in excess of $2.5 billion and $700 million, respectively, led by the launches of <em>Red Dead Redemption 2<\/em> and a highly anticipated new title from one of 2K\u2019s biggest franchises.&#8221;<\/p>\n<p>The company raised\u00a0its net revenue guidance for the year ending March 31, 2018 to range between $1.8 and $1.85 billion, with profits expected to range between\u00a0$170 to $181 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Grand Theft Auto\u00a0publisher Take-Two Interactive today reported a modest bump in revenue and a swing to profit for the fiscal quarter ended December 31. The company said one of its main focuses&#8211;expanding digital sales&#8211;is\u00a0on track, stating that recurrent consumer spending (purchases of DLC, in-game currency and microtransactions) grew 64 percent\u00a0year-over-year and accounted for 32 percent [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":12348,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-12347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/12347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=12347"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/12347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media\/12348"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=12347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=12347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=12347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}